Publish Date: 2015/17/5
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European Companies Start Talks on Gas Investment in Iran

European Companies Start Talks on Gas Investment in Iran

Managing-Director of National Iranian Gas Company (NIGC) Hamidreza Araqi announced on Thursday that European companies have started negotiations with NIGC on making investments in Iran's gas industry.

European companies held talks with NIGC during the 20th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran, Araqi said, adding that there will be negotiations between the Iranian company and a number of other European firms within the next month.

"The company (NIGC) has held plenty of negotiations with foreign investors. The talks will go on, but contracts have yet to be signed in this regard," he added.

Araqi, who is also a deputy oil minister, further noted that the companies attending the talks aim to finance and invest in the construction of pipelines.

"Investment opportunities have already been defined for the participation of these companies," he said.

Iran, which has the largest gas reserves in the world, seeks to enhance gas production by increasing foreign and domestic investments.

In its Statistical Review of World Energy released in June 2014, the BP classed Iran as the world's top gas reserves holder with 33.8 trillion cubic meters.

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